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===================================
Trailing Stop - ATR Chandelier Exit
===================================
---8<---------------------------
{ Trailing Stop - ATR Chandelier Exit v2.0 }
{ Triggers: Long (+1) & Short (-1) signals
at crossover of user-defined trailing stops }
{ ©Copyright 2003 Jose Silva }
{ http://users.bigpond.com/prominex/pegasus.htm }
pds:=Input("ATR periods",1,252,10);
pds1:=Input("ATR lookback periods",1,252,21);
multi:=Input("ATR multiplier",0,10,2.5);
plot:=Input("plot: trailing stop=1, Long+Short=2, signals=3",1,3,1)
;
adv:=Input("plot: today's trailing stop=0, tomorrow's stop=1",0,1,0)
;
delay:=Input("Entry and Exit signal delay",
0,5,0);
StLong:=HHV(C-multi*ATR(pds),pds1);
StShort:=LLV(C+multi*ATR(pds),pds1);
stopLong:=If(C<PREV,StLong,Max(StLong,PREV));
stopShort:=If(C>PREV,StShort,Min(StShort,PREV));
In:=Cross(C,Ref(stopShort,-1));
Out:=Cross(Ref(stopLong,-1),C);
Init:=Cum(In+Out>-1)=1;
InInit:=Cum(In)=1;
flag:=BarsSince(Init OR In)
< BarsSince(Init OR Out)+InInit;
signals:=Ref((InInit AND Alert(InInit=0,2)
OR flag AND Alert(flag=0,2))
+(flag=0 AND Alert(flag,2))*-1,-delay);
stop:=Ref(If(flag=1,stopLong,stopShort),-1+adv);
If(plot=1,stop,
If(plot=2,Ref(stopLong,-1+adv),0));
If(plot=1,stop,
If(plot=2,Ref(stopShort,-1+adv),signals))
---8<---------------------------
jose '-)
--- In equismetastock@xxxxxxxxxxxxxxx, "arenzo2" <arenzo2@xxxx> wrote:
> Hi,
> I would like to have a simple exit signal based for example on
> close - ATR, for long entry, but I would like that the formula can
> only give higher values (without declining) until price hit the
> value (exit signal).
>
> Could someone please suggest I could program it ?
>
> Many thanks
>
> Renato
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